Cotton futures climbed to the highest price of the year with trade talks between US and key importer India adding to an improved sentiment on global demand. The most-active futures contract gained as much as 3.5% in New York, rising for a second straight session and reaching the highest since late December. Prices rebounded after reaching multi-year lows in the aftermath of US President Donald Trump’s tariff announcements earlier this month. Washington and New Delhi have made progress on a bilateral trade deal that they aim to seal by fall of this year, Vice President JD Vance said after a four-day trip to India. Export sales of cotton to India also climbed for the week ended April 10, according to data from the US Department of Agriculture. “The trade developments in India have the possibility of creating a positive demand export driven catalyst for US cotton,” said Walter Kunisch, senior commodities market strategist at Hilltop Securities Inc A more optimistic economic mood on Wednesday has also helped lift cotton, ADM Investor Services said in a note, adding that prices are supported by “ideas that a strong economy helps textile demand.” (ICE NEW DELHI)

Fonte notizia: Bloomberg